Forecast for the EURUSD currency pair
Pre-opening: 1.06132
Opening: 1.06050
Chg. % for the last day: +0.29
Day range: 1.05892 – 1.06361
52-week range: 1.0366 – 1.1616
On Friday, 13 January, a significant change in the EUR/USD rate did not happen. The currency kept the resistance level of 1.06500. At the moment, the technical pattern of EUR/USD indicates the correct development. Today, the decreased trading activity should be expected on the financial markets. This is due to the holiday in the US.
The MACD histogram has started to decline and moved into the negative zone, which gives a signal to sell EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.
News background today is quite calm:
– a holiday in the US – Martin Luther King Day;
– the trade balance in the euro area (12:00 GMT + 2: 00).
Trading recommendations:
Support levels: 1.05150
Resistance levels: 1.06100, 1.06500
We expect a corrective movement on the EUR/USD currency pair. One should consider selling to around 1.05600.
Forecast for the GBPUSD currency pair
Pre-opening: 1.21568
Opening: 1.20004
Chg. % for the last day: +0.13
Day range: 1.19864 – 1.20594
52-week range: 1.2016 – 1.5513
On Friday, 13 January, a significant change in the EUR/USD rate did not happen. The currency kept the resistance level of 1.06500. At the moment, the technical pattern of EUR/USD indicates the correct development. Today, the decreased trading activity should be expected on the financial markets. This is due to the holiday in the US.
The MACD histogram has started to decline and moved into the negative zone, which gives a signal to sell EUR/USD.
Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.
News background today is quite calm:
– a holiday in the US – Martin Luther King Day;
– the trade balance in the euro area (12:00 GMT + 2: 00).
Trading recommendations:
Support levels: 1.05150
Resistance levels: 1.06100, 1.06500
We expect a corrective movement on the EUR/USD currency pair. One should consider selling to around 1.05600.
Forecast for the USDCAD currency pair
Pre-opening: 1.31439
Opening: 1.31345
Chg. % for the last day: -0.24
Day range: 1.31176 – 1.31492
52-week range: 1.2458 – 1.4692
On Friday, the USD/CAD currency pair was in flat. Significant changes in the Canadian dollar did not happen. Currency is being traded with a range of 55 points. Currently, USD/CAD is testing the support level of 1.31300.
Indicators do not send strong signals. The MACD histogram is located near the 0 mark.
Stochastic Oscillator has consolidated in the neutral zone, the %K line crossed the %D line. Currently, there are no signals.
Important economic data from Canada is not expected today.
Trading recommendations:
Support levels: 1.31300, 1.30500
Resistance levels: 1.32000
We expect the upward trend on the USD/CAD currency pair to the level of 1.31850.
Forecast for the USDJPY currency pair
Pre-opening: 114.680
Opening: 114.333
Chg. % for the last day: -0.17
Day range: 113.618 – 114.462
52-week range: 99.08 – 123.69
On Friday, there was no unidirectional movement on the USD/JPY currency pair. The trading ended with a slight increase in the yen against the US dollar. During the Asian trading session, the currency kept the support level of 113.900.
The MACD histogram is in the negative zone, but above the signal line, which delivers a weak signal to sell USD/JPY.
Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, indicating the growth of the USD/JPY quotations.
The news background for the Japanese economy is calm now.
Trading recommendations:
Support levels: 113.900
Resistance levels: 115.250, 116.300
The previous forecast was quite accurate. We believe that the pair could reach the 114.850 local resistance. We recommend to consider buying.